Quote:
Originally Posted by DeeJayH  any idiot who has 500,000 in a bank account, at todays interets rates, DESERVES to lose it |
Why? Alternatives offer better returns at the price of greater risk. Therefore your statement short-sightedly ignores the total cost of an investment.
Banks are intended to be havens from risk, so people placing their money there are doing so for a reason. Elderly can not rely on long-term average returns on their capital, since they can not forecast when a medical emergency or such might require a short-term need of it.